ValuEngine Downgrades Solaredge Technologies (NASDAQ:SEDG) to Hold

Solaredge Technologies (NASDAQ:SEDG) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Other equities research analysts also recently issued reports about the company. Goldman Sachs Group upgraded Solaredge Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $52.00 in a report on Monday, June 17th. Oppenheimer lifted their price objective on Solaredge Technologies from $66.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. JMP Securities lifted their price objective on Solaredge Technologies to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Roth Capital lifted their price objective on Solaredge Technologies from $70.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Cowen set a $85.00 price objective on Solaredge Technologies and gave the stock a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $75.86.

Shares of SEDG traded down $7.79 during trading hours on Tuesday, hitting $71.64. The company had a trading volume of 3,772,336 shares, compared to its average volume of 754,591. The firm has a fifty day moving average price of $76.81 and a 200-day moving average price of $56.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.98 and a current ratio of 2.49. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.13 and a beta of 0.06. Solaredge Technologies has a 52-week low of $32.42 and a 52-week high of $89.43.



Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The company had revenue of $325.00 million during the quarter, compared to the consensus estimate of $315.53 million. During the same period last year, the company earned $0.82 EPS. Solaredge Technologies’s revenue for the quarter was up 43.1% on a year-over-year basis. Research analysts anticipate that Solaredge Technologies will post 2.99 earnings per share for the current fiscal year.

In other Solaredge Technologies news, CEO Zvi Lando sold 28,604 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.93, for a total transaction of $2,343,525.72. Following the completion of the sale, the chief executive officer now directly owns 84,375 shares in the company, valued at approximately $6,912,843.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Yoav Galin sold 97,500 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $84.22, for a total value of $8,211,450.00. Following the sale, the vice president now owns 59,030 shares of the company’s stock, valued at $4,971,506.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,995 shares of company stock valued at $17,894,851. Corporate insiders own 7.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Pathstone Family Office LLC bought a new stake in shares of Solaredge Technologies during the 2nd quarter valued at about $31,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Solaredge Technologies during the 2nd quarter valued at about $32,000. Westside Investment Management Inc. bought a new stake in shares of Solaredge Technologies during the 2nd quarter valued at about $35,000. Tower Research Capital LLC TRC bought a new stake in shares of Solaredge Technologies during the 2nd quarter valued at about $69,000. Finally, NumerixS Investment Technologies Inc grew its stake in shares of Solaredge Technologies by 44.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 84.66% of the company’s stock.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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